Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Gulen admits meeting key figure in Turkey coup plot, dismisses Erdogan’s ‘senseless’ claims

In an exclusive interview with FRANCE 24, Fethullah Gulen admitted meeting a key figure in Turkey’s July 2016 attempted coup. But the Turkish cleric said that a mere visit from one of his followers isn’t proof he orchestrated the failed coup.

Gülen’s lawyer refutes Erdoğan’s claims as baseless

Nurullah Albayrak, the lawyer of Islamic scholar Fethullah Gülen, has denied President Recep Tayyip Erdoğan’s accusations against his client, saying the president has misrepresented the claims included in a recently unveiled indictment on a bugging scandal.

I am concerned: Erdoğan and elections

Current developments are disturbing. It does not take an oracle to guess that when the elections get even closer, the country will move further towards insanity if Erdoğan does not change his stance on a number of issues and cease his ferocious rhetorical tactic of designating every critic a traitor. Hrant Dink was assassinated as a result of such a campaign of hate.

An NBA Center Faces Imprisonment And Possible Execution In Turkey

Normally, the Oklahoma City Thunder would be trying to find a replacement for Kevin Durant, or figure out how to get past the Golden State Warriors, San Antonio Spurs or Houston Rockets. They probably didn’t expect they’d have to struggle to keep their center Enes Kanter from being jailed and possibly executed in Turkey by an increasingly authoritarian leader.

600 complaints filed alleging slander, libel against Gülen

A total of 600 complaints have been filed against those who have slandered and libeled Turkish Islamic scholar Fethullah Gülen since a major corruption and bribery investigation became public on Dec. 17 of last year.

Turks are not cows

In question are serious and grave accusations such as being involved in corruption, stacking money in houses, seeking villas, trying to get rid of millions of dollars… If all of these were just slander, what would a political man with self-confidence do? Wouldn’t he publicly present concrete evidence proving the slander?

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Fear and paranoia still stalk Turkey two months after the failed coup

Turkish schools are selected best high schools in Mongolia

Professors in Gaziantep profiled alongside students

Ex-minister denies claims over helping ‘parallel structure’ while in office

Islamic scholar Gülen rejects involvement with graft probe and wiretappings

Turkey-China seek new gateway for business at Tuskon meeting

French coach Tigana to donate computer lab to Turkish school in Mali

Copyright 2026 Hizmet News